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IMF hails Lazarus Chakwera economic reforms

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International Monetary Fund (IMF) Director Kristalina Georgieva has said she is impressed with President Lazarus Chakwera’s commitment to forge ahead with ambitious reforms to improve Malawians’ lives.

Georgieva had a discussion with Chakwera Thursday in the United States after which she hailed the President for working towards restoring macroeconomic stability, including tackling unsustainable public debt.

The two met at the IMF headquarters and the IMF boss said it was “a very thoughtful and productive discussion” on the difficult economic situation facing Malawi.

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In a statement released Thursday, Georgieva says the IMF staff is working steadfastly to have the IMF team visit Malawi soon to discuss next steps and explore options to address the country’s immediate financing needs and support its reform programme.

“We agreed that tackling the country’s economic challenges effectively calls for a concerted effort by all stakeholders, including the support of the international community,” the statement reads.

The IMF boss has further indicated that the two agreed that tackling the country’s economic challenges effectively calls for concerted effort.

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Writing on his social media page, Chakwera said the meeting was “a cordial meeting centred on our obligations and IMF’s commitments to the pursuit of an Extended Credit Facility for Malawi”.

“I also held discussions with Axel van Trotsenburg, Managing Director of the World Bank Group. We discussed the targets Malawi is aiming to reach to fast track the disbursement of $1.5 billion that has been approved by the bank for projects in our country,” Chakwera said.

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